Panel delays decision that could gut pension fix
HELENA, Mont. (AP) -- A mistake in the Legislature's proposed pension fix for
public employees could undo plans to balance the system in less than 30 years.
A proposed Public Employees Retirement Board rule would activate a trigger in
the fix that terminates increased contributions envisioned as a major way to
help fix the system.
The retirement board said Tuesday it will meet next week about plans to have
actuaries analyze the impact of cutting inflationary increases for retirees
also a part of the pension fix. It is expected to show the system would balance
in 30 years, and that the contribution increases are no longer needed.
But lawmakers argue those increases were supposed to stay in place especially
since the courts could also strike the inflationary increases as unconstitutional